Money

2 Hours AgoGovernment intervention in Silicon Valley Bank 'not a bailout': Pershing Square's AckmanThe U.S. government's intervention in the Silicon Valley Bank collapse is "not a bailout", according to Bill Ackman, founder and CEO of hedge fund Pershing Square Capital Management.In a tweet, Ackman explained that in this incident, mainly shareholders and bondholders of the banks will be affected, and the losses will be absorbed by the Federal Deposit Insurance Corporation's insurance fund.This is in contrast to the 2008 financial crisis, where the U.S. government injected taxpayer money in the form...

A major trade union organization has fired its general secretary after he admitted accepting donations from a suspect in a European cash-for-influence scandalMarch 12, 2023, 4:28 PM ET• 2 min readBRUSSELS -- An organization representing trade unions around the world has fired its general secretary after he admitted accepting donations from a suspect in a major European cash-for-influence scandal, saying that the affair has severely damaged its reputation.The International Trade Union Confederation, which claims to represent around 200 million workers worldwide, said in a statement issued after a weekend meeting...